Rezolute (NASDAQ:RZLT) Stock Price Down 3.8% – What’s Next?

Rezolute, Inc. (NASDAQ:RZLT)’s stock price was down 3.8% on Thursday . The stock traded as low as $3.23 and last traded at $3.25. Approximately 2,102,456 shares were traded during trading, a decline of 49% from the average daily volume of 4,120,417 shares. The stock had previously closed at $3.38.

Wall Street Analyst Weigh In

RZLT has been the subject of a number of analyst reports. Craig Hallum downgraded shares of Rezolute from a “buy” rating to a “hold” rating and set a $2.00 price objective for the company. in a research report on Thursday, December 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rezolute in a report on Thursday, January 22nd. Wall Street Zen downgraded Rezolute from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Wedbush upped their price objective on Rezolute to $2.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $20.00 target price on shares of Rezolute in a research note on Friday, December 5th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.67.

Rezolute Price Performance

The company has a market capitalization of $309.72 million, a P/E ratio of -3.59 and a beta of 0.39. The company has a fifty day moving average price of $4.40 and a two-hundred day moving average price of $6.69.

Rezolute (NASDAQ:RZLT) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.09. As a group, sell-side analysts forecast that Rezolute, Inc. will post -0.93 earnings per share for the current year.

Insider Activity

In other news, CEO Nevan C. Elam bought 32,000 shares of the stock in a transaction dated Monday, December 15th. The stock was bought at an average price of $1.59 per share, for a total transaction of $50,880.00. Following the completion of the acquisition, the chief executive officer directly owned 641,119 shares in the company, valued at approximately $1,019,379.21. This trade represents a 5.25% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Daron Evans purchased 40,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were acquired at an average cost of $1.77 per share, with a total value of $70,800.00. Following the completion of the transaction, the chief financial officer directly owned 415,900 shares of the company’s stock, valued at $736,143. The trade was a 10.64% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 89,100 shares of company stock valued at $150,232. 14.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rezolute

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in shares of Rezolute during the 2nd quarter valued at approximately $25,000. HB Wealth Management LLC purchased a new position in shares of Rezolute during the 4th quarter valued at $26,000. Fifth Third Wealth Advisors LLC bought a new position in shares of Rezolute in the fourth quarter worth $29,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Rezolute in the second quarter worth $30,000. Finally, Legal & General Group Plc bought a new stake in Rezolute during the second quarter valued at $32,000. 82.97% of the stock is owned by institutional investors.

Rezolute Company Profile

Rezolute, Inc, a clinical stage biopharmaceutical company, develops therapies for metabolic diseases associated with chronic glucose imbalance in the United States. The company's lead product candidate is RZ358, a human monoclonal antibody that is in Phase 2b clinical trial for the treatment of congenital hyperinsulinism, an ultra-rare pediatric genetic disorder. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.